Headlands Technologies LLC Trims Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Headlands Technologies LLC reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 30.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,046 shares of the basic materials company’s stock after selling 7,798 shares during the period. Headlands Technologies LLC’s holdings in Steel Dynamics were worth $2,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock valued at $642,033,000 after buying an additional 451,630 shares during the period. Capital Research Global Investors raised its holdings in Steel Dynamics by 29.4% in the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock valued at $409,816,000 after buying an additional 815,629 shares during the period. First Trust Advisors LP raised its holdings in Steel Dynamics by 14.1% in the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock valued at $362,636,000 after buying an additional 393,516 shares during the period. Victory Capital Management Inc. raised its holdings in Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after buying an additional 1,475,767 shares during the period. Finally, Northern Trust Corp raised its holdings in Steel Dynamics by 17.1% in the 4th quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company’s stock valued at $202,507,000 after buying an additional 259,361 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $122.23 on Thursday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a market cap of $18.15 billion, a PE ratio of 17.82, a P/E/G ratio of 1.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The business has a 50-day simple moving average of $130.52 and a 200-day simple moving average of $128.18.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm posted $2.72 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STLD. Wall Street Zen lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Morgan Stanley boosted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.33.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president directly owned 125,319 shares of the company’s stock, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,749 shares of company stock valued at $2,702,468. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.